Barack Obama

M&G's head of retail fixed interest Jim Leaviss has warned the US will see its credit rating downgraded to AA shortly after next year's presidential election.

Business secretary Vince Cable has hit out at what he described as "a few right-wing nutters" holding up a deal to cut US government debt.

Crude oil advanced for a fourth day on signs Europe and US will contain their debt crises, easing speculation demand for raw materials will suffer, Bloomberg reports.

The US Congress moved one step closer to sealing a deal on its debt ceiling, pushing down yields on 30-year government bonds.

Senior European Union (EU) officials are set to meet later on Monday to discuss the eurozone's continuing debt woes.

US Treasury secretary Tim Geithner is considering exiting the administration after the government negotiates the country's borrowing limit, reports the FT.

Financial regulators in Europe have called on the Obama administration to speed up reform of its banking regulations to prevent the world's largest economy gaining an unfair advantage over counterparts.

The US treasury is battling to slash spending after the country's national debt soared to $14trn, reaching a self-imposed limit set by Congress last century.

Warnings from the White House, an RBS share sale, fake mortgages and PPI winners - our round-up of today's national newspapers.

PIMCO's CIO Bill Gross has recommended investors look to non-US dollar bonds on the view the US dollar will continue to devalue.